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These KPIs will help your sales team increase revenue in 2017 and beyond.

12 January 2017 | NORM MCCONKEY


 

 

Will your current strategy result in your business achieving its revenue goals from 2017 through 2020? When you start planning for 2017 and beyond, it’s the most important question every business owner should ask. If you are a technology company that provides hardware and services, your product offerings over time will change. Do your sales tactics need to change as well? While your current business needs to sustain itself, how and when do you successfully introduce new initiatives? The beginning of a new year is a great time. New initiatives should be backed up by measurements or key performance indicators. Here are six Key Performance Indicators (KPIs) that every company can implement.

 

marketing KPI

 

Think of it this way. 10 years ago Apple didn’t sell phones, yet today phones are 2/3 of their revenue. The seeds you plant today may not immediately bear fruit, but all new initiatives need to start somewhere, and every successful strategy should be accompanied with a measurement.

 

CRM accounts

KPI 1: New Accounts in your CRM (including email)

KPI Target

- 5 per week/sales rep

- In one year 4 sales reps can increase your DB by 1000 contacts

Why It’s Important

- Your sales team is THE BEST option you have for building a lead database—make them accountable!

KPI 2: Emailed/Online Sales Quotes

KPI Target

- 2 quotes/week/rep

- 100 quotes/year

Why It’s Important

- Your sales team must get accustomed to delivering sales quotes online
 and not in person if they wish to sell to millennials.

KPI 3: New Online Buyers

KPI Target

-2 new online buyers/month

-In one year 4 reps will create over 100 e-commerce customers

Why It’s Important

-20% of all B2B business will be e-commerce.

-Your SEO ranking will increase as site traffic and online sales increase.

-Your company value increases.

KPI 4: Printer Supply Monitoring

KPI Target

20 devices/month/sales rep

- 4 reps will add 1000 devices to your revenue pool in one year,
  adding 400 supply purchases per month @ $100/unit

Why It’s Important

- Most office printers are not under contract and supplies are required periodically.

- Supplies are THE BEST product to automate into e-commerce sales.

KPI 5: Unique Website Visitors

KPI Target

- 250 visitors/month/sales rep

Why It’s Important

-Achieving this goal forces activity that brings visitors to your site.

-If you are not able to achieve this, you need a new marketing partner! It’s 2017.

KPI 6: Online Revenue

KPI Target

- $100,000/year/sales rep

Why It’s Important

- Without separating out an online quota, your sales team will
  continue to ignore your website.

 

These new 2017 KPIs have a distinct digital feel—no accident there, right? If you consider that by 2020, 20% of all B2B revenue will be transacted online, then there is not much time to get your business headed in that direction. These six KPIs should enable most companies to still focus sales activity on what drives revenue today, while exposing the sales team to the digital/e-commerce opportunity that is on its way. Actually, the e-commerce opportunity is here—it’s not “on its way!” Many digital initiatives fail because they often live outside the sales team: owners don’t want to distract sales from their revenue goal, right? Successful sales people of the future will be fully integrated into your digital strategy. Successful sales people of the future will “live” in your website. These six KPIs can ensure you are moving in step with that future reality.

 

Yes, you will also need an e-commerce website, but these goals will help drive activity to help justify the $5,000 price tag of a new e-commerce website.

 

Here’s my email: nmcconkey@tangentmtw.com.

Here’s my website: www.mpstoolbox.com.

Need help getting started?

 

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About the Author

Norm McConkey

Norm McConkey has been involved in the print, imaging, and software/tech business since 1993. Holding executive level positions in a number of emerging technology firms, he founded PrintFleet in 2003, and Tangent MTW in 2009. A founding member of the MPSA, an award winning author and presenter, Norm has spoken at various industry events around the world including the Lyra Imaging Symposium, Photizo confernece, ITEX Tradeshow, Regional BTA conferences, Remax Europe, and World Expo. He has been contracted to consult and build go to market and sales training programs with several OEM manufacturers such as Canon USA, and HP, and distributors such as Parts Now and Supplies Network, as well Resellers including Office Depot. Norm’s current project, MPSToolbox (www.mpstoolbox.com), is a software platform which helps technology dealers develop and maintain e-commerce websites.

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